Invest & share with
the benefits of their next Concert Tours
Ready to be an innovator and earn royalties from Image Rights of the band Le Vibrazioni, one of the most long-lived and active Pop Rock bands of the Italian music scene?
The opportunity for the public to invest in an artist’s image rights from live concerts, performances and public appearances is a market first.
The catalogue generated (pro-quota to the percentage listed) royalties averaging over €91,000 in the last 3 years (2018-2020). With a listing valuation of €250,000 the listing is set at an entry multiple of 2.77 over the last 3 years’ average royalties, resulting in an expected yield (yearly IRR, employing constant 3-year average royalties) of 23.59%.
The listing itself has a maturity of 5 years and is brought to you by Artist First, a renowned Italian record label, event manager and music distributor. The starting price is set at €25.00 per share.
First distributions are expected within 4 months upon the auction closing date.
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About the Listing
Artist First, in partnership with ANote Music, provides you with the opportunity to invest in Le Vibrazioni’s Image Rights. Allowing you to be one of the first retail investors or music fans to generate dividend-alike royalty income flows derived from live performances.
Winning bids will offer investors the right to receive cash flows from the music and artistic performance of Le Vibrazioni during concerts, public performance and public appearance, which will be taking place across the 5-year deal during a Concert Tour. The band is expected to perform in 180 public events/concerts, each of them managed and organised by Artist First
The listing gives exposure to a remarkable growth opportunity, with a rebound in the band’s touring and promotional activities, as well as public performances. An opportunity not to be missed.
About the Catalogue
The catalogue currently includes the royalties from Image Rights of the band Le Vibrazioni. The band was formed in 1999 in Milan, Italy and in their 22+ years music career, Le Vibrazioni has been in the focal of the Italian Pop and Rock music scene, with all their albums being released by BMG.
Their single “Dedicato a te”, released at the beginning of 2003, immediately became one of the most aired songs on the Italian radio, reaching the top positions of the best-selling singles chart (15 thousand copies within the first week), remaining there for over four months, and becoming Platinum some months later.
The group is renowned as one of the most successful debut groups in Italy and was awarded the Italian Music prize for Best Revelation and Best Group. ‘Così sbagliato’ is the song that marked Le Vibrazioni’s return to the scene and to the Top Charts, presented in their second participation in the Sanremo Music Festival in 2018. In 2020, they were selected to bring ‘Così sbagliato’ to the Ariston stage (Sanremo Festival).
Their singles ‘Amore Zen’ and ‘Pensami così’ which, together with ‘Così sbagliato’, have over 10 million streams and 12 million views on YouTube, proving that after such an extensive career the band is still in high demand with the fans.
It’s the first time retail investors and music enthusiasts will have the opportunity to invest directly in the Image Rights of a band and see royalties from live performance shared. The contract between the band and Artist First defines the Concert Tour for the next 5 years and engages the band to perform in 180 public events/ concerts, each of them managed and organized by Artist First.
What are image rights?
Image rights are the expression of a personality in the public domain. The provision of image rights in law enables the definition, value, commercial exploitation and protection of image rights associated with a person. Image Rights enables a ‘personnage’ (such as natural and legal persons, joint personalities, groups or fictional characters) to register, protect and exploit the use of their visual representation. Registration enables the image right to be protected, licensed and assigned. Image rights can include everything from names, nicknames, likeness, image, photograph, signature, autograph, initials, expressions, statements, endorsements, physical details, voices and other personal characteristics.
What are royalties from image rights?
Image Rights have legally binding economic rights linked to it, allowing the exploitation of a ‘personnage’. These economic rights lead to royalty generation derived from the image rights in question. In this case, the image rights of the brand Le Vibrazioni refer to the music and artistic performance of the band during concerts, public performance and public appearance, which will be taking place across the 5-year deal during a Concert Tour organised by Artist First.
How will I receive the royalties?
For a period of 5 years (or for as long as you own shares to Le Vibrazioni’s catalogue in your portfolio), you will receive – pro-rata to the percentage of the catalogue you own – a split of the compensation that the band receives each time they participate in a public performance linked to ‘Concert Tour’ and their attached promotional activities. These payouts will take place on a quarterly basis and will account for the royalties earned during the indicated past reference periods. Similar to royalty distributions for other music catalogues, ANote Music will be distributing the exact amounts straight to the investor’s account and portfolio wallet. The standard fees are applied as is the case for other auctions: 4% when the rights have been acquired during primary market listings, 8% in the case they were traded on the secondary market. For more information on our fees, read more on the dedicated section on our platform.
What happens if the band does not perform?
The contract defines the Concert Tour for the next 5 years and engages the band to perform in 180 public events/ concerts, each of them managed and organised by Artist First. As this is defined in the catalogue contract and is part of the listing order, all legal aspects are in place to assure the seller to commit to these performances.
How is the initial price of the asset determined?
As with any listing on the ANote Music platform, an in depth due diligence process has been executed by our experts, carefully analysing and evaluating the historical track record and future roadmap of the catalogue. Following this and in agreement with the rights owner (Artist First), the initial price has been determined based on the past 3-years average of generated royalties linked to the image rights of the band, and has been set at a multiple of 2.77 (over a listing term of 5 years). This means that if the concert activity is in line with the last 3 years, you are expected to receive your capital back after 2.77 years (equals to just over 2 years and 9 months). The remaining listing period until reaching the 5-years mark is expected to deliver royalty distributions as profit. If we break this down and look at an amortisation per year, in the last 3 years a yearly yield of 20% or higher was generated from investing in this music catalogue. For more concrete royalties reports, please visit the catalogue’s page on the platform.
How has COVID-19 impacted the royalty stream?
Unfortunately, the impact of the pandemic has taken a heavy toll on all cultural sectors, including the music industry and event sector. With restrictions measurements being in place around the globe and big public venues being restricted from welcoming spectators, little to no live performances were allowed to take place. This can be noticed in the financial overview of 2020 and 2021. As COVID-19 restrictions are easing up and public events start taking place again, a return to pre-covid levels is forecasted. Similarly with many artists, Le Vibrazioni are eager to perform back live in front of their fans and experience the engagement of live concerts.
Who is the initial rights holder?
Artist First is the first Italian record, physical and digital distribution company. Founded in 2009, they offer an alternative to the Italian music distribution system, offering tailor-made services and products for Italian artists and music entrepreneurs, creating a direct connection to them and the market. Artist First currently has more than 5,000 exclusive publications on their books, either direct or acquired through the label’s distributed 132 gold records, 87 platinum records, 1 diamond record and 41 entries at number 1 in the ranking. The company is based in Milan and employs 50 collaborators, including employees, agents and visual merchandisers.
WHY INVEST IN MUSIC
The next big asset class are music catalogues
1 - Track record
Well-established music catalogues only
ANote Music only handles catalogues with a minimum of 3 years stable royalty history.
2 - Cash Flows
Collective Management Organisations
For any catalogue on sale, ANote Music has arrangements with royalty distributors to ensure and distribute royalty inflows.
3 - Passive Role
No active management activities
Investors through ANote Music have a passive role in the management of the purchased catalogues.
How does it work?
ANote Music combines a friendly look, an innovative trading approach and a dynamic interface to provide you with an intuitive music trading experience.
By participating in an auction, you are helping to provide the music industry with an alternative funding model. Shares acquired in the primary market also benefit from a 50% discount on the distribution fees and only get withhold 4%.
Once the auction phase ends, you’ll receive shares for your successful bids. What’s left to do? Sit back and benefit from royalty distributions or trade with other investors on the secondary market.